A Yorkshire motor auction is celebrating its tenth year with growth boosted by recession-busting buying habits.
The Lane family bought into Independent Motor Auctions in 2003 and, since then, the business has seen turnover leap from £1 million in its first year to £18 million last year. Recently, the business has added two acres to its site on Bruntcliffe Lane in Morley, taking it to five acres and launched an online auction site and mobile app to help with its growth in the coming years.
In addition, the third generation of the Lane family has joined the team. John Lane and his son, Justin, originally bought 50% of Independent Motor Auctions in 2003, later taking full control of the business. Now, Justin’s son, Chris, has been recruited as a trainee auctioneer.
As part of Independent Motor Auctions’ ongoing investment plans, the business has bought a new transporter- taking their stock to six- making collection and delivery for customers even more efficient.
The directors attribute much of the business’s growth to a combination of exceptional service levels and a change in buying patterns, spurred on by the recession, which has seen people seek out better value for money.
Independent Motor Auctions is the only independent motor auction business in West Yorkshire, and operates from Scotland down to Birmingham counting names such as Vantage Motors, RMB, John Roe, Batchelor’s, Jennings, SG Petch, Cars2 and many more as clients.
The firm run three sales a week catering for both trade and private buyers and sellers. They now employs 32 staff, having launched 10 years ago with just seven, and plans to increase this further in the coming year.
Speaking about the business’s growth, Justin Lane, managing director, said: “The motor auction industry is a dying trade amongst young people and, generally, there’s not enough investment in it. It’s a great career as our family has demonstrated- I’m really proud that now my son has joined the business. As a company, Independent Motor Auctions is growing faster than the industry itself and we’re really pleased with our progress.
“We’re the only independent motor auction company in West Yorkshire- but we’re surrounded by some major PLCs so we have to work really hard to compete. However, people keep coming back to us because we are independent and thanks to our outstanding service standards- our company motto is ‘TLC not PLC’- customers trust us. The recession saw a massive shift in buying patterns and boosted our industry. It was out strongest growth period and is helping us to create more jobs and opportunities as we continue to expand.”